Friday 7th September, 2018

By
Godwill Arthur-Mensah, GNA
Accra, Sept. 7, GNA - The United States
Government has charged managers of Ghana’s power sector to tap into private
know-how and investment to minimise the current estimated eight million dollar
distribution losses of power a week.
The US also urged the managers to ensure
reliable and efficient supply of electricity to consumers.
It tasked the Millennium Develop

By
Godwill Arthur-Mensah, GNA

Accra, Sept. 7, GNA - The United States
Government has charged managers of Ghana’s power sector to tap into private
know-how and investment to minimise the current estimated eight million dollar
distribution losses of power a week.

The US also urged the managers to ensure
reliable and efficient supply of electricity to consumers.

It tasked the Millennium Development Authority
(MiDA), Electricity Company of Ghana (ECG), Northern Electricity Distribution
Company (NEDCo) and the Public Utility Regulatory Commission (PURC) as well as
other key agencies to continue collaboration in order to meet the objectives of
the Ghana Power Compact II.

Mr Christopher Lamora, Chargé d' Affaires and
Acting US Ambassador to Ghana, made the call at the commemoration of the second
anniversary of the Ghana Power Compact II Entry-Into-Force and launch of
Compact II Documentary in Accra.

He noted that for the future of Ghana and
Africa to be guaranteed, it depended largely on reliable energy and, thus,
assured of the US Government’s commitment to be a reliable partner for the
power sector development.

Mr Lamora said: “As we implement the largest
US government transaction under Power Africa, our focus is no longer on power
generation, but rather on reliability, access and affordability-pillars of
investment and economic growth”.

The US Government has signed two power
compacts with Ghana with a combined value of over one billion dollars over the
past decade.

The first compact was worth US$547 million
administered from 2007 to 2012, which focused on agricultural transformation
(agribusiness), while the second Power Compact totalled US$498.2 million, aimed
at improving infrastructure in the power sector in Ghana running from 2016 to
2021.

The Compact II was signed in August 5, 2014,
between the Ghana Government and the Millennium Challenge Corporation (MCC) of
the United States.

It became operational on September 6, 2016,
after Ghana had met all the requisite conditions prior to accessing the first
tranche of funds under the US$498.2 million grant agreement.

The Compact sought to increase private sector
investment and productivity, profitability of micro, small, medium and large
scale businesses and improve power reliability and availability, as well as
increase employment opportunities for Ghanaians and raise earning potential
from self-employment and improved social outcomes.

Professor Naa Ntiamoa-Baidu, the Chairperson
of MiDA said over the past two years, the Authority and other implementing
entities had carried out various activities to meet condition precedent of the
power compact and to improve the reliability and availability of electricity to
power consumers.

She acknowledged the contribution of some key
stakeholders that helped the nation to meet critical conditions outlined in the
compact, including the Electricity Company of Ghana, Northern Electricity
Distribution Company, Public Utility
Regulatory Commission, Energy Commission, Ghana Standard Authority, Ministry of
Energy, Finance Ministry and the Ministry of Justice and Attorney-General.

She noted that the projects under the compact
were carefully selected to ensure maximum impact for delivery of power to the
ordinary Ghanaian, induce economic growth and strengthen the economy, as well
as reduce poverty among the populace and enhance productivity.

Prof. Ntiamoa-Baidu assured that the Authority
would continue to work collaboratively with the various stakeholders in the
power sector in achieving the Compact deliverables.

Mr John Peter Amewu, the Energy Minister, in
an address, pledged Government’s unflinching support to MiDA and other
implementing agencies to realise the objectives of the Compact.

He acknowledged the significance of energy to
economic growth, noting that, for any nation to achieve its industrialisation
drive it would have to depend on reliable electricity.

Mr Amewu lauded the board and management of
MiDA and other implementing agencies for helping the nation to achieve the
milestone of the Compact.

The commemoration of the second anniversary
also marked the deadline for the nation meeting a number of critical conditions
in the Compact and Ghana’s eligibility to access the remainder of US$190
million being tranche two disbursements of the US$498.2 million Compact grant
funds.

It brought together key stakeholders in the
energy sector, including the board of directors and management members of MiDA,
implementing agencies and officials from the MCC.

The Communication and Outreach Unit of MiDA
premiered a 25-minute documentary entitled: ‘‘The Power Compact; for a brighter
Ghana’’ aimed at ensuring greater public awareness and understanding about the
compact programme.